TN Secures ₹850 Cr Investment from Three US Firms

The Tamil Nadu government has signed MoUs worth ₹850 crore with three US-based companies during Chief Minister M K Stalin's visit to the United States on September 6, 2024. The agreements mark a significant boost to the state’s industrial and economic landscape.

Lincoln Electric has committed ₹500 crore for expanding its research, development, and manufacturing unit in Chengalpattu. This expansion is expected to enhance the company’s capabilities and further solidify Tamil Nadu’s position as a manufacturing hub.

Vishay Precision, another US firm, has pledged ₹100 crore to establish a production facility for sensors and transducers in Kanchipuram. This investment is set to bolster the state's electronics and precision engineering sectors, creating new job opportunities and advancing technological innovation.

Visteon, a global leader in automotive electronics, will invest ₹250 crore to set up manufacturing units in Chennai and Coimbatore. This investment will not only support the automotive industry but also position Tamil Nadu as a critical player in electronics manufacturing.

With these investments, Tamil Nadu continues to attract global interest, reinforcing its reputation as a leader in production, research, and development. The state’s ongoing efforts to develop world-class infrastructure and industrial parks are key factors in drawing such significant investments.

News by Rahul Yelligetti